Legal & General Group Plc acquired a new position in shares of Daqo New Energy Corp (NYSE:DQ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,274 shares of the semiconductor company’s stock, valued at approximately $33,000.
Other large investors also recently modified their holdings of the company. Sensato Investors LLC purchased a new stake in Daqo New Energy in the 3rd quarter valued at $9,528,000. Morgan Stanley raised its position in Daqo New Energy by 65.2% in the 3rd quarter. Morgan Stanley now owns 498,156 shares of the semiconductor company’s stock valued at $13,006,000 after purchasing an additional 196,663 shares during the last quarter. BlackRock Inc. purchased a new stake in Daqo New Energy in the 2nd quarter valued at $2,493,000. Prudential Financial Inc. purchased a new stake in Daqo New Energy in the 3rd quarter valued at $326,000. Finally, Jane Street Group LLC purchased a new stake in Daqo New Energy in the 3rd quarter valued at $300,000. Institutional investors and hedge funds own 37.66% of the company’s stock.
DQ has been the subject of several research reports. Zacks Investment Research downgraded shares of Daqo New Energy from a “buy” rating to a “sell” rating in a research report on Monday, January 14th. TheStreet downgraded shares of Daqo New Energy from a “b-” rating to a “c+” rating in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.00.
Shares of Daqo New Energy stock opened at $33.22 on Tuesday. The firm has a market cap of $372.35 million, a price-to-earnings ratio of 3.91, a PEG ratio of 0.28 and a beta of 2.12. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.23. Daqo New Energy Corp has a one year low of $20.35 and a one year high of $71.50.
Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Tuesday, November 13th. The semiconductor company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of ($1.36) by $1.68. The company had revenue of $67.40 million during the quarter, compared to the consensus estimate of $74.50 million. Daqo New Energy had a net margin of 17.71% and a return on equity of 17.53%. Daqo New Energy’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.35 EPS. On average, equities research analysts forecast that Daqo New Energy Corp will post 4.02 earnings per share for the current year.
Daqo New Energy Company Profile
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
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